Finer Wealth Management Inc. Decreases Position in Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC)

Finer Wealth Management Inc. lessened its holdings in shares of Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 5.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 29,014 shares of the company’s stock after selling 1,554 shares during the quarter. Grayscale Bitcoin Trust ETF comprises approximately 1.1% of Finer Wealth Management Inc.’s portfolio, making the stock its 27th biggest position. Finer Wealth Management Inc.’s holdings in Grayscale Bitcoin Trust ETF were worth $1,891,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Palacios Wealth Management LLC acquired a new position in shares of Grayscale Bitcoin Trust ETF in the 1st quarter valued at $65,170,000. Leigh Baldwin & CO. LLC acquired a new position in shares of Grayscale Bitcoin Trust ETF in the 4th quarter valued at $34,353,000. TB Alternative Assets Ltd. increased its position in shares of Grayscale Bitcoin Trust ETF by 942.4% in the 1st quarter. TB Alternative Assets Ltd. now owns 290,203 shares of the company’s stock valued at $18,913,000 after acquiring an additional 262,362 shares during the period. Lido Advisors LLC increased its position in shares of Grayscale Bitcoin Trust ETF by 113.9% in the 4th quarter. Lido Advisors LLC now owns 134,124 shares of the company’s stock valued at $9,928,000 after acquiring an additional 71,422 shares during the period. Finally, Millennium Management LLC increased its position in shares of Grayscale Bitcoin Trust ETF by 66.2% in the 4th quarter. Millennium Management LLC now owns 166,177 shares of the company’s stock valued at $12,300,000 after acquiring an additional 66,177 shares during the period.

Grayscale Bitcoin Trust ETF Price Performance

NYSEARCA GBTC opened at $93.59 on Tuesday. The stock’s fifty day moving average price is $87.77 and its 200 day moving average price is $78.41. The company has a market cap of $21.81 billion, a price-to-earnings ratio of 2.23 and a beta of 2.47. Grayscale Bitcoin Trust ETF has a 1 year low of $42.37 and a 1 year high of $96.16.

Grayscale Bitcoin Trust ETF Company Profile

The Grayscale Bitcoin Trust (GBTC) is an exchange-traded fund that mostly invests in long btc, short usd currency. The fund is passively managed, offering exposure to the daily USD spot price of bitcoin (BTC). An investment in the fund is not a direct investment in bitcoin. GBTC was launched on Jan 11, 2024 and is issued by Grayscale.